Market Conditions
The real estate market is always changing... Sometimes quickly, sometimes more slowly.
Lakeview Realty Inc. knows the market and how it will affect your home search and buying decisions.
It is important for you to understand the three basic types of conditions.
Market
Type |
Characteristics |
Implications
for Buyers |
| Buyer's market
(The supply of homes on the market
exceeds the demand, or number of buyers)
|
- High Inventory of Listings
- Few buyers compared to availability
- Homes on Market longer
- Prices more stable or dropping
|
- You have more time to make a decision
- More negotiation power
- More product to choose from
- Conditional offers considered
|
| |
|
|
| Seller's Market
(The number of buyers wanting homes
exceeds the supply or number of homes on the market)
|
- Minimal Inventory of Homes
- Many buyers
- Homes Sell Quickly
- Prices on Increase
|
- You may have to pay more than
anticipated
- You may have to make decisions quickly
- Conditional Offers may be rejected
|
| |
|
|
| Balanced Market
(The number of homes on the market is
equal to the demand or number of buyers)
|
- Demand Equals the supply
- Sellers accept reasonable offers
- Houses sell within reasonable time
period
- Prices generally stable
|
- More relaxed atmosphere
- Reasonable Number of homes to choose
from
- Normal negotiation process
- Conditional offers probably considered
|
$229000.00
$229000.00